v3.25.3
Income Taxes (Tables)
9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Reconciliation between the U.S. federal statutory tax rate and effective tax rate
A reconciliation between the U.S. federal statutory tax rate and our effective tax rate is summarized as follows:
For the Three Months Ended September 30,For the Nine Months Ended September 30,
 2025202420252024
Statutory rate21.0 %21.0 %21.0 %21.0 %
State taxes1.7 2.5 1.7 1.7 
Taxes on foreign earnings, including valuation allowances(5.0)(11.9)(7.2)(7.0)
Tax credits(1.6)(1.2)(1.8)(1.7)
Purchased inventory valuation step-up and intangible assets2.4 3.3 2.3 2.0 
GILTI(1.2)(1.1)(1.0)(1.4)
Share-based compensation awards— — 1.1 0.2 
OBBBA enactment(2.1)— (0.7)— 
Other, including permanent items1.1 1.3 1.4 0.6 
Effective tax rate16.3 %13.9 %16.8 %15.4 %